Never miss a beat on Africa's legal and regulatory landscape.
On 28 March 2024, the Central Bank of Nigeria revised the minimum capital requirements for banks aimed at strengthening the Nigerian financial system and actualizing the Nigerian Government’s objective to achieve a US$1 trillion economy in gross domestic product terms by ..
On 21 March 2024, the Bank of Mozambique published Notice No. 4/GBM/2024 in the Official Gazette. This notice establishes the regime for the liberalization of capital operations and other foreign exchange operations in Mozambique. It applies to all parties involved in for..
The Virtual Assets Act 10 of 2023 was brought into force on 25 July 2023. With the promulgation and coming into force of the VAA, many had the hope that the Act would shed some light on questions such as, may one legally own, possess or trade Bitcoin, what the rules for t..
In the wake of the recent regulatory developments in the Nigerian market, the Securities and Exchange Commission on 15 March 2024 published its proposed amendments to the existing SEC rules on issuance, offering platforms and custody of digital assets dated 11 May 2..
In a bid to enhance the regulatory framework governing banks and financial institutions, the Bank of Tanzania has recently enacted the Banking and Financial Institutions (Compulsory Liquidation) Regulations, 2024. The Regulations, published under Section 71 of the Banking..
Notice No. 07/GBM/2024 of 29 February 2024 establishes the transaction limits applicable to Electronic Money Institutions, which are defined by the Law on Credit Institutions and Financial Companies, as financial companies authorised to provide payment services, whose mai..
In recent years, South Africa has experienced an increase in cybercrimes, cyberattacks, and security breaches, with banks and financial institutions being prime targets. Reports have found that stolen or compromised credentials and phishing scams are the primary attack ve..
The Bank of Mauritius has placed Silver Bank Ltd under conservatorship in accordance with Section 65 of the Banking Act. The last time that a bank was put under conservatorship in Mauritius was BanyanTree Bank Ltd in 2020. Of note, the conservatorship of BanyanTree Bank L..
Robo advisory services have been gaining traction over time in Nigeria with the operation of early version Robo Advisors such as PiggyVest. The growth has been attributed to Nigeria’s growing middle class and increasing smartphone penetration. According to statistics, the..
